MOU To Collaborate On Domestic Uranium Fuel Supply For Natrium Reactor

CASPER, WY - TerraPower and Uranium Energy Corp announced a memorandum of understanding (MOU) with objectives of reestablishing domestic supply chains of uranium fuel. This MOU will allow TerraPower and UEC to explore the potential supply of uranium for TerraPower's first-of-kind Natrium™ reactor1 and energy storage system. The Natrium demonstration project, being built in Kemmerer, Wyoming, will be a commercial scale plant upon completion and will begin operations within a decade. UEC and TerraPower have made significant investments in the nuclear fuel cycle and commercial scale deployment of clean energy projects that will directly benefit the U.S. economy. This includes delivering carbon-free power, high paying jobs, and providing support for establishing a robust U.S. nuclear fuel supply chain for Small Modular (SMR) and Advanced Reactors (AR) and their high assay low enriched uranium (HALEU) requirements. These new reactors, like TerraPower is advancing in Wyoming, present innovative leaps in technology that can help address the world's growing clean energy needs with abundant 24/7, carbon-free power.

SMRs and ARs present the fastest growing segment of nuclear energy in the United States and need a secure, domestic fuel supply chain. The first step of the supply chain is uranium, and UEC's Wyoming resources have the critical mass to be a highly reliable source of uranium for American HALEU and a good strategic fit to supply TerraPower's Natrium reactor.